Significant layoffs appear to be coming in ICB London in September as part of a major restructuring. There is considerable duplication across teams within JPM Personal Investing, Chase, and Accelerator.
Richard Crozier and Mohamed Noah appear to be competing for survival, with only one likely to remain. Mark O’Donovan is also reportedly at risk. With Marianne being pushed out, he may no longer have the protection he previously benefited from, and Troy is expected to take a hard line on the cuts.